The City of Toronto and CreateTO announced today that Greenwin Corp. and Kingsett Affordable Housing LP have been selected as development partners for the creation of new affordable and market rental housing at 705 Warden Ave. Greenwin and Kingsett were selected after a competitive market offering process launched by CBRE on behalf of the City and CreateTO.
705 Warden Ave. is one of 17 sites identified for development under Housing Now, an initiative aimed at adding much-needed affordable and market housing supply to the City of Toronto by activating underutilized City-owned sites for development. The development is located at the northeast corner of Warden Ave. and St. Clair Ave. E. The site is just steps away from Warden Subway Station and is surrounded by parks, a community centre, healthcare facilities, restaurants and more convenient urban amenities.
In total, the Housing Now sites will bring approximately 13,000 new homes to mixed-income, mixed-use, transit-oriented communities of the City. Of these new units, 10,000 will be purpose-built rental housing and 5,000 of these are planned to be affordable rental housing.